Fuel Prices to Plunge After Conflict Ends, Says US Treasury Secretary

Speaking to U.S. media, Bessent stated, "At the other end of this conflict, oil prices are going to be much lower." He suggested that the current price hikes driven by the Israel-Iran war are temporary and will correct themselves as stability returns.

Bessent also addressed Tehran's attempts to impose tolls on ships navigating the strategic Strait of Hormuz, noting that the effort is failing to generate significant revenue for Iran. As the global economy grapples with energy inflation, the Treasury Secretary’s remarks offer a glimpse into Washington’s optimistic outlook for a post-conflict market correction and economic recovery.